The pond that fills the bottom of the Mountain Pass rare-earth metal mine reflects the terraces. Digging is expected to resume by the second half of 2011 after the water is pumped out. (Don Bartletti / Los Angeles Times)

Reporting from Mountain Pass, Calif. -

Fear of a shortage of rare-earth metals used in high-tech military and industrial products has spawned global efforts to reopen abandoned mines, including the formidable Mountain Pass Mine in California's Mojave Desert.

Discovered in the 1940s by uranium prospectors, Mountain Pass contains an array of rare earths, including cerium and lanthanum, in concentrations almost double those found at the world's biggest rare-earth mine, China's Bayan Obo.

"You're looking at the greatest rare-earth deposit in the world," says operations manager John Benfield as he ushers a visitor around the 2,200-acre site 60 miles southwest of Las Vegas.

Benfield's employer, Molycorp Minerals in Colorado, has just begun a two-year effort to restore Mountain Pass to its former role as a leading global producer. Those plans were given a boost recently amid fears that China was poised to ban exports of some of the scarcer rare-earth metals and to sharply limit shipments of others.

Although the Chinese government has sought to allay those concerns, a possible ban served as a reminder that the Asian nation is nearly the sole source worldwide for rare-earth metals and is likely to remain so for at least the next two years.

"You always want multiple sources for your raw materials," said Jim Hedrick, commodity specialist with the U.S. Geological Survey. "There could be a natural disaster that significantly disrupts the supply, or there could be geopolitical issues. . . .

Resource Capital Funds, Pegasus Partners IV, LP, The Goldman Sachs Group, Inc., Traxys North America LLC and Carint Group LLC. Included in the acquisition is the Molycorp name and upon closing, the company will be renamed Molycorp Minerals LLC.

WELL, WELL, WELL...
Turns out that Pegasus Partners is owned by Chris Cougat. I thought the name sounded familiar, so i started looking. He is a HUGE Contributor to:

PROTEST CHALLENGES RADIOACTIVE MINE WITH LONG HISTORY OF SPILLS NEXT TO MOJAVE NATIONAL PRESERVE

The Center for Biological Diversity, local citizens, and seven other conservation organizations including Great Basin Mine Watch, National Parks Conservation Association, Sierra Club and California Communities Against Toxics, formally objected in June to the proposed expansion of a rare-earth metals mine adjacent to the Mojave National Preserve. Despite its track record of polluting the regions air, land, and water, Molycorp, Inc. (owned by parent company Unocal) wants to expand and operate its Mountain Pass Mine for another 30 years.

Before ceasing full operations in 1997, the Mountain Pass mine was ranked as one of Californias worst polluters, amassing a dangerous track record of spilling radioactive and toxic wastes.

Over 2,600 chemical, mining waste, and other spills were reported between 1982-1998. Molycorp has been subject to criminal investigation and charged with fines for its irresponsible and dangerous practices and the illegal storage of hazardous mining wastes at the mine site. In 1995 and 1996, Molycorp pipelines spilled hundreds of thousands of gallons of radioactive and toxic wastes including uranium, thorium, and radiumon on BLM lands neighboring the Mojave National Preserve that are critical habitat to the desert tortoise.

Molycorps evaporation, tailings, and process ponds have contaminated regional groundwater supplies and air quality. Several children contracted a serious illness while attending the school neighboring the mine.

The California Department of Health found toxic contaminants such as strontium, arsenic, yttrium, and lanthanides were found in the carpet and the dust in the classrooms. Dust blowing from Molycorps mine, laden with rare-earth metals, has long been a top suspect as cause of illnesses in children at the Mountain Pass Elementary School and among area residents.

16
posted on 10/14/2009 7:31:20 PM PDT
by tcrlaf
("Hope" is the most Evil of all Evils"-Neitzsche)

Some folks here can be very sensitive about comments like some of the biggest capitalist are in cahoots with some of the worst socialist/communist on the planet. I'm a capitalist. But an American Constitutional, strong America, industrial, manufacturing, research and development, the best for America type patriotic capitalist. Be damned with all those that scoop up easy money and control things that bring this country down. IMHO, there is a specific term one can use for the like of them. I believe it is called traitors.

18
posted on 10/14/2009 7:40:39 PM PDT
by Marine_Uncle
(Honor must be earned....)

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